Profund Advisors LLC Trims Position in ACADIA Pharmaceuticals Inc. $ACAD

Profund Advisors LLC cut its holdings in shares of ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) by 31.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,952 shares of the biopharmaceutical company’s stock after selling 14,308 shares during the quarter. Profund Advisors LLC’s holdings in ACADIA Pharmaceuticals were worth $668,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Comerica Bank grew its holdings in ACADIA Pharmaceuticals by 4,770.1% during the 1st quarter. Comerica Bank now owns 43,100 shares of the biopharmaceutical company’s stock valued at $716,000 after buying an additional 42,215 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of ACADIA Pharmaceuticals by 100.9% in the first quarter. Rhumbline Advisers now owns 352,716 shares of the biopharmaceutical company’s stock worth $5,859,000 after buying an additional 177,188 shares in the last quarter. Atria Investments Inc boosted its position in shares of ACADIA Pharmaceuticals by 26.1% during the second quarter. Atria Investments Inc now owns 22,087 shares of the biopharmaceutical company’s stock worth $476,000 after acquiring an additional 4,574 shares during the last quarter. Woodline Partners LP grew its stake in ACADIA Pharmaceuticals by 1,003.0% during the first quarter. Woodline Partners LP now owns 295,210 shares of the biopharmaceutical company’s stock valued at $4,903,000 after acquiring an additional 268,445 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in ACADIA Pharmaceuticals in the 2nd quarter valued at $511,000. 96.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at ACADIA Pharmaceuticals

In other ACADIA Pharmaceuticals news, EVP Mark C. Schneyer sold 3,498 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $23.65, for a total value of $82,727.70. Following the completion of the sale, the executive vice president directly owned 43,447 shares in the company, valued at approximately $1,027,521.55. This represents a 7.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Elizabeth A. Garofalo sold 1,600 shares of ACADIA Pharmaceuticals stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $25.98, for a total value of $41,568.00. Following the completion of the transaction, the director owned 25,382 shares in the company, valued at $659,424.36. This trade represents a 5.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 57,098 shares of company stock valued at $1,349,356 in the last ninety days. Corporate insiders own 28.30% of the company’s stock.

ACADIA Pharmaceuticals Price Performance

ACADIA Pharmaceuticals stock opened at $24.13 on Thursday. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 7.90 and a beta of 0.80. The firm has a 50-day moving average of $22.48 and a two-hundred day moving average of $22.13. ACADIA Pharmaceuticals Inc. has a 1 year low of $13.40 and a 1 year high of $26.65.

ACADIA Pharmaceuticals (NASDAQ:ACAD) last posted its quarterly earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.28. ACADIA Pharmaceuticals had a net margin of 21.80% and a return on equity of 14.69%. The firm had revenue of $278.63 million during the quarter, compared to the consensus estimate of $276.52 million. During the same quarter in the previous year, the firm posted $0.20 earnings per share. The company’s revenue was up 11.3% on a year-over-year basis. ACADIA Pharmaceuticals has set its FY 2025 guidance at EPS. Research analysts expect that ACADIA Pharmaceuticals Inc. will post 0.7 earnings per share for the current year.

Wall Street Analyst Weigh In

ACAD has been the subject of several research reports. Weiss Ratings reissued a “hold (c)” rating on shares of ACADIA Pharmaceuticals in a report on Tuesday, October 14th. JMP Securities boosted their target price on ACADIA Pharmaceuticals from $37.00 to $38.00 and gave the stock a “market outperform” rating in a research report on Thursday, August 7th. Needham & Company LLC increased their price target on ACADIA Pharmaceuticals from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Wall Street Zen raised ACADIA Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Mizuho upped their price objective on ACADIA Pharmaceuticals from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.94.

About ACADIA Pharmaceuticals

ACADIA Pharmaceuticals Inc, a biopharmaceutical company, focuses on the development and commercialization innovative medicines that address unmet medical needs in central nervous system (CNS) disorders and rare diseases in the United States. The company offers NUPLAZID (pimavanserin) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis; and DAYBUE, a novel synthetic analog of the amino-terminal tripeptide of insulin-like growth factor 1 for treatment of Rett Syndrome.